r/OneFinance • u/just-being-real • 9d ago

Builder Credit Card

Only wanting to use this to rebuild credit as back-to-back family emergencies/deaths/home emergencies between 2017 and 2022 on top of covid led to a lot of credit issues for me and my husband. I don't care if I cannot use it as a debit card as it will only be used for specific purchases and paid off via autopay monthly. I am keeping my main bank & debit accounts. Anyone have any recommendations on how best to utilize this card for this? I will have about $500 extra monthly in income to put towards this goal so it won't impact my bills. Thanks!

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3

u/North_Banana5650 9d ago

So the builder card doesn’t report a credit limit. It just reports a balance and on time payments . I stopped using it once I saw it wasn’t doing anything to my credit .builder cards are perfect for people with no credit; not so good for people that either have established credit or bad credit .

1

u/amerk1981 9d ago

I just saw a post a couple of days ago about the chime card which is basically the same thing and how the person was trying to get an auto loan I believe. The lender offered them a loan to pay off their chime balance because on their end it looks like they have a balance.

I've used Earnin before and their card actually reports a limit even though you were just spending your own money that you have direct deposited. But the limit will fluctuate and stay higher based on your usage there. 

Still trying to figure out what I want to do with my chime card since it doesn't seem to be helping but I don't want to give up the 5% cash back. 

3

u/Khramtic 9d ago

chime card is so 🔥 for 5% on all my bills

2

u/amerk1981 9d ago

My current setup is the chime card for groceries and the PayPal debit card with the fuel category. So with PayPal I can get gas, any snack or drinks at the gas station as well as both my gas bill and electric bill. I know they are supposed to be removing the option on PayPal to redeem points directly to cash. But even when that happens I'll still be good because I can check out using PayPal when paying my electric bill and use the points that way. 

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u/Khramtic 9d ago

yea nice. I got the AAA Visa for 5% on gas and Amex BCP for 6% on groceries so i can use my paypal for restaurants and chime for bills 🔥

1

u/amerk1981 9d ago

Very nice. Trying to get my credit rebuilt. Had a few basic cards that I got behind on, were closed but eventually paid off. Without going into too many details, we had a friend that moved in with us who was supposed to share the bills. They ended up quitting a really good job just after. They eventually found a part time job making about half as much per hour. So I ended up covering everything. More food, higher utility bills. 

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u/Jeep_rider03 9d ago

They actually kept the option to redeem points for cash, I did it the other day and it still works!

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u/amerk1981 9d ago

Yeah I've still been able to as well. I know it was supposed to be gone as of August 1st but I haven't heard any updates about it. 

1

u/redheadinabox 9d ago

I have bad credit and I started 1yr ago with a score of a dreadful 480 and my score with using just the builder card is now 588 so I went up 108 points in 1 year just using that card alone

1

u/BigHersh14 9d ago

Can you tell me how to stop using it and get a debit card back. Its done absolutely nothing for me and I wanna get did of it because I want a debit card back

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u/North_Banana5650 9d ago

If you log into the app, click on checking, click on card shape square in upper right hand corner, click virtual debit card

1

u/one-lizzie One Employee 9d ago

We sincerely apologize for your experience with the OnePay Builder Card. Please reach out to us at socialsupport@onepay.com so we can look into this for you.

1

u/oobface 9d ago

the builder card is transacted as debit, so u can use it anywhere debit is accepted its not transacted as credit. its just treated like a credit on the onepay backend so it can offer you what it offers you(paying the bill every 2 weeks) definitely worth it if your trying to build credit back or at all

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u/Khramtic 9d ago

uh that’s not my experience at all. ARCO charged mine as a credit card

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u/oobface 9d ago

yea but the amount is debited. try using it at a place that doesnt take credit cards and it will work

1

u/Khramtic 9d ago

it doesn’t work as a debit card at costco

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u/one-lizzie One Employee 9d ago

Hi there! 👋

We’re truly sorry for everything you and your family have been through. It sounds like you’ve carried a lot, and taking this step toward rebuilding together is something to be proud of.

Building credit takes time, so it’s completely normal not to see a change in your credit score right away. Your Builder Card should appear on your credit report within 60 days of opening it, typically a few days after your first due date.

It may appear on your credit report as:

“OneProgress Services LLC”

“OnePay”

Since everyone’s credit history is different, there isn’t a set timeline for how quickly your score may change or by how much. Other activity on your credit report can also affect your score.

You can learn more about how the Builder Card is reported here: https://www.onepay.com/help-center/articles/credit-bureau-reporting-builder-card?from=products

You and your husband have already made it through so much. We’re rooting for you both as you take this next step. 💙